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Question 1 Companies must allocate the cost of all the goods available for sale (or use) between The cost goods on hands at the beginning of the period as reported on the statement of financial position and the cost of goods acquired or produced during the period. The cost of goods on hand at the end of the period as reported on the statement of financial position and the cost of goods acquired or produced during the period. OB The income statement and the statement of financial position . All of the choices are correct. D Save > A Moving to another question will save this response. Question 2 of 18 estion 2 1 points Rendo Company keeps its inventory records using a perpetual system. At December 31, 2015, the unadjusted balance in the inventory account is 554.000. Through a physical count on December 31, 2015 Rendo determines that its actual merchandise inventory at year-end is 562.500. Which of the following is true regarding the statement of financial position and the income statement of Rendo company at December 31, 2015? Inventory is increased and cost of goods sold is decreased by 31.500. Inventory is decreased and cost of goods sold is increased by $1.500. B. Inventory is increased and cost of goods sold is increased by $1.500. . Inventory is decreased and cost of goods sold is decreased by 31.500. D